Ack! It’s another set of early exits on new crossovers for this trading strategy. Read on to find out if it managed to score gains this time.
If this is the first time you’re reading about the SMA Crossover Pullback system, make sure you look at the trading rules and risk management adjustments first.
EUR/USD had a new crossover towards the end of the other week, and this was followed by a long signal early on. However, this didn’t gain any bullish momentum at all, so a bearish crossover soon popped up.
This one also went in the other direction but has yet to hit its stop or snag another early exit. Not lookin’ good so far!
Cable hit its full profit target a few weeks back and had a crossover-free run in the previous update. It’s still the same case for this pair recently.
Meanwhile, EUR/JPY also had a new crossover in the earlier update, and it took a while before a stochastic pullback materialized. So far, this one seems to be going well, but I hope I didn’t jinx it!
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1186 | 1.1036 | 1.1486 | Closed | -52 | -0.37 |
| EUR/USD | Short | 1.1175 | 1.1325 | 1.0875 | Open | – | – |
| EUR/JPY | Short | 122.07 | 123.57 | 119.07 | Open | – | – |
Most of the losses seem to be coming from the range-bound action among euro pairs lately, as the moving averages have been oscillating to quickly generate new signals and early exits. Think trending conditions are bound to return soon?
I’ve crunched the numbers for Q1 2019, so make sure you check that one out! How is it holding up to other mechanical systems in Forex Ninja’s weekly showcase?
